Just bought a MR :)
Nov 30, 2010, 08:23 PM
#16
If you are happy that is OK but if they have you rolling over "Negative Equity" you more then likely got hosed.
http://www.ucan.org/gasoline_autos/a..._10_auto_scams
Scam 1. Negative Equity/Trade-In Overestimation
This arises in a transaction that includes a trade-in vehicle when more is owed on the trade-in vehicle than the actual cash value of the vehicle. Generally, a customer is led to believe that the dealership is valuing the trade-in vehicle at the same amount as what is owed (thus the customer won't owe anything on the trade-in.) In reality, the secret actual cash value (the value the dealership is really giving the trade-in) is less than the amount owed. The difference is added to the cash price of the new vehicle (or the capitalization costs of a leased vehicle.) By inflating the cash price or cap costs of the vehicle, you the customer are illegally paying more in sales tax and registration. The dealership may also be violating the laws related to selling a vehicle for the advertised price (a dealership may not sell for more than advertised price.) A similar illegal practice may occur when a lease balance is paid off. These are still illegal practices even when the customer is told what is happening.
http://www.ucan.org/gasoline_autos/a..._10_auto_scams
Scam 1. Negative Equity/Trade-In Overestimation
This arises in a transaction that includes a trade-in vehicle when more is owed on the trade-in vehicle than the actual cash value of the vehicle. Generally, a customer is led to believe that the dealership is valuing the trade-in vehicle at the same amount as what is owed (thus the customer won't owe anything on the trade-in.) In reality, the secret actual cash value (the value the dealership is really giving the trade-in) is less than the amount owed. The difference is added to the cash price of the new vehicle (or the capitalization costs of a leased vehicle.) By inflating the cash price or cap costs of the vehicle, you the customer are illegally paying more in sales tax and registration. The dealership may also be violating the laws related to selling a vehicle for the advertised price (a dealership may not sell for more than advertised price.) A similar illegal practice may occur when a lease balance is paid off. These are still illegal practices even when the customer is told what is happening.
Let me clear up some questions,
First off it has full package leather seats with white stitching and mmcs package with fosgate system and sunroof. It already had the lip apparently but i wanted the lip. I personally dont like the large spoiler that it can come with and if im going to put a spoiler it will be a carbon fiber one. Lastly i did roll the negaive equity into my car so minus the equity i payed roughly 42000 walk away when i said 52000 that was walk away with every thing i said on 0percent finacing and no interest ( so i assume) but i bet the bank got some cash some how out of it.
Theres nothing better then owning my dream car at 22! I have been working so hard so this and now its here!! Ill post pics tommorrow it will prolly be a bit dirty because of the current weather in canada!
First off it has full package leather seats with white stitching and mmcs package with fosgate system and sunroof. It already had the lip apparently but i wanted the lip. I personally dont like the large spoiler that it can come with and if im going to put a spoiler it will be a carbon fiber one. Lastly i did roll the negaive equity into my car so minus the equity i payed roughly 42000 walk away when i said 52000 that was walk away with every thing i said on 0percent finacing and no interest ( so i assume) but i bet the bank got some cash some how out of it.
Theres nothing better then owning my dream car at 22! I have been working so hard so this and now its here!! Ill post pics tommorrow it will prolly be a bit dirty because of the current weather in canada!
Nov 30, 2010, 08:46 PM
#18
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Not sure about the scam thing because i heard about it and i have already called my last bank loan and it was payed off in full by my dealership and only loan that is in effect is the new deal i made. In effect ive cancelled out my last car loan and started a new one on the MR. (or so i think)
Nov 30, 2010, 09:07 PM
#20
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congrats on the purchase! I got mine last year and got the itch for performance mods.. I'm pretty sure you'll get the "itch" as well. If you are going to mod your evo mr, get a tune right away and enjoy! Welcome to the community. Speaking from experience, you'll get a lot of support here! 
Dec 1, 2010, 01:15 AM
#23
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In Canada, we don't have "MR Touring." Its just called MR premium. The 2010 MR premium is exactly the same as the MR-T minus the MR badge and the lip spoiler. You'd think with our price hikes they would include a $300 lip spoiler and a $20 badge!
FYI in 2008, the MR premium differs from the 2010's in that they got the SSS spoiler and heated leather/suade seats.
FYI in 2008, the MR premium differs from the 2010's in that they got the SSS spoiler and heated leather/suade seats.
Dec 1, 2010, 11:39 AM
#24
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I can't imagine having a $46k auto loan at the age of 22. that's a lot of money ($766/mo at 0%... you did get 0%, right??), even taking into account that its canadian funny money.
I'm 26, and still owe about $12k on my car... not trying to pass judgment, but wow! if you have the means and work ethic, more power to you.
I'm 26, and still owe about $12k on my car... not trying to pass judgment, but wow! if you have the means and work ethic, more power to you.
Dec 1, 2010, 01:15 PM
#25
I can't imagine having a $46k auto loan at the age of 22. that's a lot of money ($766/mo at 0%... you did get 0%, right??), even taking into account that its canadian funny money.
I'm 26, and still owe about $12k on my car... not trying to pass judgment, but wow! if you have the means and work ethic, more power to you.
I'm 26, and still owe about $12k on my car... not trying to pass judgment, but wow! if you have the means and work ethic, more power to you.
The Canadian Dollar (CAD) and the U.S. Dollar (USD) are almost equal and as of this post $1 USD = $1.0171 CAD.
But then again they don't have a massive military to support and only ten percent of our population to support.
Dec 1, 2010, 04:27 PM
#26
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Yeah The payments are a bit much roughly 40% of my monthly income...but I def make alot more then the average 22 year old. I work with the army. Yes, it was o% APR and 0% Finacing. Also It was not a scam. This is 100% legit. I essentially payed off my remaining balance on my old Ralliart and got the MR at discounted price. I couldn't get photos agian because by the time I got dismissed for the day it was darker then hell out.
The only Itch I have is to get better gas milage and a bit more power (accessport?) Because I wanna be able to put it stock in the event something happens.
Never thought owning an EVO would provoke alot of the bigger engine guys. I have two co-workers who own a Challenger SRT-8 and a Camero 2010...and they seem to be very jealous and need to keep trying to say that they have the faster car. :/ I just tell them that I'm not sure and regardless I think my car is much more sexxxy
The only Itch I have is to get better gas milage and a bit more power (accessport?) Because I wanna be able to put it stock in the event something happens.
Never thought owning an EVO would provoke alot of the bigger engine guys. I have two co-workers who own a Challenger SRT-8 and a Camero 2010...and they seem to be very jealous and need to keep trying to say that they have the faster car. :/ I just tell them that I'm not sure and regardless I think my car is much more sexxxy
Dec 1, 2010, 08:31 PM
#27
Yeah The payments are a bit much roughly 40% of my monthly income...but I def make alot more then the average 22 year old. I work with the army. Yes, it was o% APR and 0% Finacing. Also It was not a scam. This is 100% legit. I essentially payed off my remaining balance on my old Ralliart and got the MR at discounted price. I couldn't get photos agian because by the time I got dismissed for the day it was darker then hell out.
The only Itch I have is to get better gas milage and a bit more power (accessport?) Because I wanna be able to put it stock in the event something happens.
Never thought owning an EVO would provoke alot of the bigger engine guys. I have two co-workers who own a Challenger SRT-8 and a Camero 2010...and they seem to be very jealous and need to keep trying to say that they have the faster car. :/ I just tell them that I'm not sure and regardless I think my car is much more sexxxy
The only Itch I have is to get better gas milage and a bit more power (accessport?) Because I wanna be able to put it stock in the event something happens.
Never thought owning an EVO would provoke alot of the bigger engine guys. I have two co-workers who own a Challenger SRT-8 and a Camero 2010...and they seem to be very jealous and need to keep trying to say that they have the faster car. :/ I just tell them that I'm not sure and regardless I think my car is much more sexxxy
Let's see.....
Dealership close to me that had a Demo MR for sale with 800km on it.
Scam 9. So is it New or is it Used?
The law requires that a dealership describe the vehicle being purchased as either "new" or "used". A used vehicle also includes a "demo" or demonstrator vehicle (vehicle used by manufacturer or dealership representatives) but often the contract will state the vehicle is "new." Also, some vehicles were previously sold but for some reason returned (usually because the failure to obtain financing) and this vehicle may also be used but is listed as new.
So I had a 2009 Ralliart with 25k on it...decided I wanted something a bit bigger and more bad***, so I found a I talked about selling my Ralliart to him. I ended up picking up the Rally Red MR at 52,000$ and I ended up putting $6,000 down it included winter tires, window deflectors and I deleted the rear spoiler and added a lip. I like the BMW style look it adds. my ralliart had roughly $10,000 negative equity
Listen....
They stole your Ralliart for an extremely undervalued price and will make a huge profit selling it. The took 6K from you, they sold you a use car at full price, you financed 52K.
You are the definition of a scamed customer. I am sorry dude but take this as a lesson.
Bragging about your income being high and then losing it to a stealership when they robbed you on multiple levels is just foolish.
Last edited by High_PSI; Dec 1, 2010 at 08:35 PM.
Dec 2, 2010, 02:13 AM
#28
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Damn high psi, you sure know how to make a fellow new evo owner feel like crap. He did loose out on $ but hes happy. Its a learning experience. An experience he could hav avoided if he did research n brought somone with him with a vast knowledge in auto financing. Anyway, enjoy the car!
Dec 2, 2010, 06:47 AM
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Damn high psi, you sure know how to make a fellow new evo owner feel like crap. He did loose out on $ but hes happy. Its a learning experience. An experience he could hav avoided if he did research n brought somone with him with a vast knowledge in auto financing. Anyway, enjoy the car!
Let's just say I couldn't justify losing that much!
Dec 2, 2010, 06:54 AM
#30
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Okay well first off I crunched the numbers alot and did the math multiple times.
My old car was worth exacty what they gave me for it you can look it up it didnt have the nav package so a 2009 ralliart goes for 23k at 25k km.
Now with 6k down at walk away 52k my total price was 58k and if you look at demo cars walk away price for my MR goes at 72k just for the MR.
Now add in the 10k worth of negative equity the price without haggle would be 82K.
So 58k at 0% apr and finace is a steal imo especially when i got them to throw in winter tires and window vents.
Just because im young dont assume i made a foolish buy.
These are also canadian prices, and I also needed new tires, brakes, windshield wipes, and an oil change on the old Ralliart so I saved coin there.
If anything I got ripped off on the sale of my Ralliart. ( I can admit that, that was my first car and I learned alot from it)
My old car was worth exacty what they gave me for it you can look it up it didnt have the nav package so a 2009 ralliart goes for 23k at 25k km.
Now with 6k down at walk away 52k my total price was 58k and if you look at demo cars walk away price for my MR goes at 72k just for the MR.
Now add in the 10k worth of negative equity the price without haggle would be 82K.
So 58k at 0% apr and finace is a steal imo especially when i got them to throw in winter tires and window vents.
Just because im young dont assume i made a foolish buy.
These are also canadian prices, and I also needed new tires, brakes, windshield wipes, and an oil change on the old Ralliart so I saved coin there.
If anything I got ripped off on the sale of my Ralliart. ( I can admit that, that was my first car and I learned alot from it)
Last edited by Kahrs; Dec 2, 2010 at 09:09 AM.